GW Henssler & Associates Ltd. Cuts Position in Phillips 66 $PSX

GW Henssler & Associates Ltd. lessened its holdings in Phillips 66 (NYSE:PSX) by 9.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,970 shares of the oil and gas company’s stock after selling 436 shares during the quarter. GW Henssler & Associates Ltd.’s holdings in Phillips 66 were worth $474,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Elliott Investment Management L.P. increased its stake in Phillips 66 by 1,929.0% during the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after buying an additional 14,950,000 shares in the last quarter. Chronos Wealth Management LLC purchased a new stake in Phillips 66 during the 2nd quarter worth approximately $281,000. Wealth Enhancement Advisory Services LLC increased its stake in Phillips 66 by 20.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company’s stock worth $19,625,000 after buying an additional 26,825 shares in the last quarter. Alta Advisers Ltd purchased a new stake in Phillips 66 during the 1st quarter worth approximately $253,000. Finally, Sustainable Insight Capital Management LLC purchased a new stake in Phillips 66 during the 1st quarter worth approximately $1,457,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on PSX shares. JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a research note on Wednesday, June 18th. UBS Group boosted their price objective on Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Morgan Stanley boosted their price objective on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Friday, October 3rd. TD Cowen upped their price target on Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Finally, Citigroup lowered Phillips 66 from a “buy” rating to a “neutral” rating and upped their price target for the company from $126.00 to $130.00 in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $140.75.

Phillips 66 Price Performance

PSX stock opened at $127.01 on Friday. The firm has a market capitalization of $51.33 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $142.35. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The business has a 50 day simple moving average of $129.51 and a 200-day simple moving average of $120.59.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.59. The company had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period in the prior year, the business posted $2.31 earnings per share. Equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio is presently 115.38%.

Insider Transactions at Phillips 66

In other news, Director Gregory Hayes purchased 8,350 shares of the stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the transaction, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. This represents a 39.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sigmund L. Cornelius purchased 500 shares of the stock in a transaction dated Thursday, July 31st. The shares were purchased at an average price of $123.55 per share, with a total value of $61,775.00. Following the completion of the transaction, the director owned 21,543 shares of the company’s stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 9,850 shares of company stock valued at $1,188,910. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.